Dealmaker: Dwight Capital Provides $147M in 223(f) Loans
Dwight Capital, New York, provided $146.9 million in HUD 223(f) loans, which included these featured multifamily properties.
Dwight Managing Principal Josh Sasouness and Managing Director Josh Hoffman originated $42.3 million for Belleau Woods Apartments, a 339-unit garden-style property in Bellingham, Wash. Built in 2003 and expanded in 2008, the property has 17 three-story residential buildings, a community building and a fitness center on 15.8 acres.
This transaction represented the fourth loan Dwight has closed for the borrower.
In Las Vegas, Dwight Executive Vice President Keith Hoffman originated $40 million for Villas at Sunrise Mountain Apartments, a 304-unit gated community. The 14.5-acre property has 38 two-story buildings, a clubhouse, fitness center and swimming pool.
Dwight also closed a $28 million loan for Sunlake at Edgewater, a 366-unit property in Huntsville, Ala. Sunlake at Edgewater is surrounded by a 120-acre stocked lake and has 2.4-mile jogging trail. The mortgage included a Green mortgage insurance premium reduction because Sunlake at Edgewater qualified as energy-efficient housing. Managing Director Brandon Baksh and Vice President Daniel Malka originated this transaction.